For me, I would say that it really depends on the project that you are participating. It's pretty difficult nowadays to determine if that project is worth investing or doing bounty.
Ubex is one good example. Back then, they were having like almost 100k members in their official Telegram group, and their project was great. However, it turns out that there are many dumpers which pulled the token's price down. So either investing or doing bounty on this was a complete loss on our part.
Swacchcoin is another example, but a terrible one. They did have a great project concept, and their team did attended a Binance Supermeetup event to prove that they're transparent to their 70k+ community. But it turns out that they're an exit scam.
So investing or doing bounty? Depends on the project and your level of being a risk taker.